A Guide on the Most Popular Digital Payments Networks
Everyday, India makes very many digital transactions. Knowing how to send and receive is very essential now that it’s becoming a very big transaction technique. There are very many digital payments networks therefore that have come up because of this. Knowing what to look for when choosing a digital payments network is very essential and there are important factors to look at.
It is very important that you can begin by understanding the essential terms and features used in this industry. Understanding is essential because at the end of the day, you will use such terms and features to determine the functionality of the network and you can also compare the fees. ACH is one of the payments you need to understand where it involves the use of credit or debit transactions electronically. Most of the providers of this option and the fee will always vary. It is also important that you learn the difference between payment getaways and processors. You can click for more details on these online for clarity. It is also important to understand what a merchant account is as you also understand why you need a provider that is compliant with the Payment Card Industry Data Security Standards.
As you research on the most popular Digital payment company worldwide, you will always come across PayPal. 28 million merchants use this account worldwide according to estimates. To send and receive money using PayPal, you can always use your email address. It is extremely easy and secure to use. It is also the best if you want to send money using the same network or another PayPal account which is a feature that is lacking in most of other networks. The PayPal as very affordable fee for the services.
If you are a developer, then stripe is one of the best options for you. It is the easiest solution for you because you can easily integrated into your website. The only thing not to be overlooked is the fact that merchant accounts can bypass the sign-up process and can handle the compliance and approvals for the same accounts. Another thing you need to check out is the fee which can be very competitive.
Google pay can connect your financial account to your Google profile. Merchants are not charged a fee to use Google services and if you are in US, you can use Google digital wallet. It can allow you to send money directly to other US citizens using your email address or phone number.
WePay can be a good option for anyone that has Chase Morgan account because you can make transactions on the same day using this service. You cannot access payment if you are a software platform or a vendor. With this network you are able to actually negotiate your rates. learn more about Zelle, Braintree and Venmo because they are also digital payments networks.